Self-custody wallet company Exodus Movement is entering into a partnership with MoonPay and M0 to launch a U.S. dollar-backed stablecoin that will be used to power its ecosystem.
The fully reserved stablecoin is developed with M0’s infrastructure and will be issued and managed by MoonPay, according to the press release. MoonPay integrated with M0 last month to expand its enterprise stablecoin business.
The upcoming stablecoin is expected to complement Exodus Pay, a forthcoming payment feature on the Exodus app, to allow users to use stablecoins to spend and manage money, and earn rewards. The goal of this integration is to create a reliable and efficient payment system that users can adopt without needing any understanding of cryptocurrencies.
“Stablecoins are quickly becoming the simplest way for people to hold and move dollars onchain, but the experience still needs to meet the expectations set by today’s consumer apps,” said JP Richardson, CEO of Exodus. “This launch will bring a digital dollar experience to Exodus to make spending and sending money around the world simple.”
The stablecoin is scheduled to launch in early 2026, with additional details such as supported networks, availability, and product integrations to be shared closer to the launch date.
Stablecoins, long essential to the growth of crypto and DeFi, reached a critical juncture this year when U.S. President Donald Trump endorsed them as a primary tool to strengthen the dollar’s global dominance. The passage of the Genius Act prompted many other countries to launch similar regulatory efforts to oversee and promote local currency-based stablecoins.
Global players in crypto and finance rushed to participate in the stablecoin momentum, including Visa and Sony Bank. RedotPay, a Hong Kong-based fintech focused on stablecoin-based payments, announced earlier today that it raised $107 million in a Series B to expand its stablecoin payment platform.
Meanwhile, Exodus recently agreed to acquire W3C Corp and its subsidiaries Baanx and Monavate for $175 million. With the acquisition, Exodus said it aims to build an end-to-end payments stack encompassing wallets and cards.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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